Budget “Shocking Turn in California’s Budget: $50 Billion Shortfall Rocks the Golden State, Putting Governor’s Presidential Dreams in Jeopardy”
Sacramento, California – Once boasting a $100 billion surplus, California now faces a daunting challenge as it grapples with a nearly $50 billion budget shortfall for the upcoming fiscal year. The drastic shift in financial fortunes has put Governor Gavin Newsom in a precarious position, forcing him to declare a statewide fiscal emergency and implement austerity measures that may jeopardize his progressive policy agenda. The budget crisis has tested Newsom’s leadership and could impact his …